– such loss shall be allowed to be carried forward and it shall be set-off by the investment fund in accordance with the provisions of Chapter VI; and

– the investor shall not be eligible to set off such loss

Applicability of distribution tax

There shall be no distribution tax on incomes distributed by an investment fund

Deemed distribution of income

Any investment income of the investment fund,if not paid or credited to the investor shall be deemed to have been credited to the account of the investor on 31st March of the previous year in which he is entitled to receive

Furnishing information to the unitholder/investor

On or before 30th June in Form 64C

Furnishing information to the Principal Commissioner /CIT

On or before 30th Nov in Form 64D

Note:

“Investment fund” means any fund established or incorporated in India in the form of a trust or a company or a limited liability partnership or a body corporate which has been granted a certificate of registration as a Category I or a Category II Alternative Investment Fund and is regulated under the Securities and Exchange Board of India (Alternative Investment Fund) Regulations, 2012, made under the Securities and Exchange Board of India Act, 1992 (15 of 1992)

Any income which has been included in total income of the investor in a previous year, on accrual basis, shall not be included in the total income of such person in the previous year in which such income is actually paid to him by the investment fund